Reinsurance News
mortgage reinsurance
Arch MI obtains $315m of indemnity reinsurance from capital markets
1st February 2022
Arch Mortgage Insurance Company (Arch MI) has announced that it has obtained over $315 million of indemnity reinsurance on a pool representing approximately $6.3 billion of mortgages from Bellemeade Re 2022-1 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $282 million in bonds and $33 million in ... Read the full article
Radian secures additional $484mn of mortgage reinsurance
11th November 2021
Radian Guaranty, a subsidiary of US mortgage insurer Radian Group, has secured an additional $484 million of fully collateralised excess of loss reinsurance protection from Eagle Re 2021-2 Ltd. This is the second time this year that Radian has looked to the capital markets for a source of mortgage reinsurance ... Read the full article
NMI Holdings secures additional $364mn of mortgage reinsurance
27th October 2021
National Mortgage Insurance Corporation (NMI Holdings, Inc.) has returned to the capital markets for the seventh time since 2017, securing $364 million of fully-collateralised mortgage reinsurance protection through an Oaktown Re mortgage insurance-linked securities (ILS) transaction. Oaktown Re VII Ltd. is a newly registered Bermuda domiciled special purpose insurer which ... Read the full article
Arch MI obtains $639mn of indemnity reinsurance via Bellemeade Re
29th September 2021
Arch Mortgage Insurance Company (Arch MI) has secured over $639 million of indemnity reinsurance on a pool representing approximately $28.7 billion of mortgages from Bellemeade Re 2021-3 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $508 million in bonds and $131 million in direct reinsurance, and covers ... Read the full article
Fidelis provides credit default insurance to German mortgage firm
25th June 2021
Fidelis Insurance Ireland DAC, a local subsidiary of the specialty re/insurer, has provided a B2B credit default insurance solution for German mortgage company Wüstenrot Bausparkasse AG. Formed in 1999 from the merger of the two traditional companies Wüstenrot and Württembergische, the W&W Group develops and brokers protection, home ownership, risk protection ... Read the full article
More than half of US mortgage reinsurance backed by Bermuda market: ABIR
28th May 2021
More than half of US mortgage reinsurance is backed by the Bermuda reinsurance market, according to new analysis by the Association of Bermuda Insurers & Reinsurers (ABIR). Reinsurance companies on the island provided increased capacity to US monoline private mortgage insurers in recent years, upping their share of reinsurance support from ... Read the full article
Radian obtains $498m of mortgage reinsurance via Eagle Re
23rd April 2021
Radian Guaranty, a subsidiary of US mortgage insurer Radian Group, has obtained $498 million of fully collateralized excess of loss reinsurance coverage from Eagle Re 2021-1 Ltd. The excess of loss reinsurance covers eligible mortgage insurance policies written by Radian Guaranty in August 2020 through December 2020. Eagle Re is a newly ... Read the full article
Arch secures over $640mn of mortgage reinsurance
31st March 2021
Arch MI, the private mortgage insurance subsidiary of Arch Capital, has obtained over $640 million of indemnity reinsurance from the capital markets. The company secured coverage on a pool representing $38 billion of mortgages from Bellemeade Re 2020-3 Ltd., a special purpose reinsurer. Arch MI explained that the reinsurance was obtained by ... Read the full article
Arch to acquire Westpac Lenders Mortgage Insurance
18th March 2021
The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited (WLMI). WLMI is an Australian Prudential Regulation Authority (APRA) authorized captive lenders mortgage insurance (LMI) provider to Westpac. The business had shareholders’ equity of $AUD ... Read the full article
Kavan Tucker joins AXIS Re as Senior Underwriter, Mortgage
24th February 2021
AXIS Re, the reinsurance business segment of AXIS Capital Holdings Limited, has announced the appointment of Kavan Tucker to the AXIS Re Global Markets team as a Senior Mortgage Underwriter, effective March 1, 2021. In this role, Tucker will be responsible for developing the Mortgage book of business at AXIS Re. In ... Read the full article
Arch MI secures $452mn of mortgage reinsurance from capital markets
4th November 2020
Arch MI, the private mortgage insurance subsidiary of Arch Capital, has obtained nearly $452 million of indemnity reinsurance from the capital markets. The company secured coverage on a pool representing $31 billion of mortgages from Bellemeade Re 2020-3 Ltd., a special purpose reinsurer. Arch MI explained that the reinsurance was obtained by ... Read the full article
Essent secures $400mn of mortgage reinsurance from capital markets
9th October 2020
Bermuda-domiciled mortgage insurer Essent Group's subsidiary Essent Guaranty has secured $399.2 million of fully collateralised excess of loss reinsurance coverage from the capital markets. The reinsurance covers mortgage insurance policies written in September 2019 through July 2020 and is from Radnor Re 2020-2 Ltd. Radnor Re 2020-2 Ltd is a newly formed Bermuda ... Read the full article
Arch MI secures $449mn of mortgage reinsurance from capital markets
4th September 2020
Arch Mortgage Insurance Company, a subsidiary of Arch Capital Group, has secured over $449 million of indemnity reinsurance from special purpose reinsurer Bellemeade Re 2020-2 Ltd. The Mortgage Insurance-Linked Note (MILN) transaction, which covers a portfolio of MI policies linked to 117,562 loans issued in the first five months of 2020, is Arch's ... Read the full article
Freddie Mac increases CRT bond issuance to $1.1bn
26th August 2020
The Federal Home Loan Mortgage Corporation (Freddie Mac) has decided to increases the planned size of its latest Structured Agency Credit Risk (STACR) offering due to investor demand. Freddie Mac has upsized the STACR 2020-DNA4 offering to nearly $1.1 billion, making it the third STACR offering to be increased since March. STACR, ... Read the full article
Freddie Mac announces closure of $2.6bn MCIP reinsurance transaction
24th August 2020
US loan mortgage corporation, Freddie Mac, has announced the closure of its third Multifamily Credit Insurance Pool offering. The transaction reinsures risk on a $2.6 billion reference pool made up of 136 multifamily loans. Partnering with insurance and reinsurance broker Aon, Freddie Mac retains the first 1% of losses, and has purchased ... Read the full article
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